Paypal enters Chilean market in partnership with Multicaja

Paypal has entered into an agreement with Multicaja in order to assist local businesses to grow globally, through a service labelled Retiros Multicaja. The Chilean payment network has more than 50,000 merchants.

The new service will enable Chilean SME’s which accept international payments via PayPal, to withdraw their funds directly into their local bank accounts. According to PayPal, the partnership will help Chilean merchants connect with buyers around the globe.

Plans to work with Multicaja to expand consumer opportunities are also in the pipeline.